Phoenix Company Advice in Hampshire

At Fast Insolvency, we provide clear, compliant guidance on forming a phoenix company in Hampshire, a new business that rises from the closure of an insolvent company.

This route allows directors to start fresh, retain viable parts of the old business, and protect jobs, but strict rules apply under UK insolvency law in Hampshire.

We protect directors from liability while helping you start fresh with a viable new business in Hampshire.

Contact us today in Hampshire for free advice on phoenix company formation and to avoid the legal risks of getting it wrong.

What Is a Phoenix Company in Hampshire?

A phoenix company is a new business that is formed after an insolvent company has been liquidated in Hampshire.

It often has the same directors, staff, and assets, but operates as a legally separate entity with a different name or structure in Hampshire.

Is It Legal to Start a Phoenix Company in Hampshire?

Yes, forming a phoenix company is legal in the UK in Hampshire, as long as it follows the rules under the Insolvency Act 1986.

The process must be transparent, and directors must not trade while insolvent or breach restrictions on using the old company name in Hampshire.

What Are the Legal Restrictions in Hampshire?

Under Section 216 of the Insolvency Act 1986 in Hampshire, directors of an insolvent company are prohibited from reusing the same or similar name for 5 years, unless they follow strict exemption procedures.

Breaching this rule can result in personal liability in Hampshire for the new company’s debts and even criminal penalties.

How Can I Reuse the Company Name Legally in Hampshire?

You can apply for a Section 216 exemption in Hampshire if:

• You buy the old company’s assets from a licensed insolvency practitioner in Hampshire

• You notify all creditors and file the correct forms with the court and Companies House within 28 days in Hampshire

We can handle this entire process for you to ensure compliance in Hampshire.

Can I Keep My Staff and Clients in Hampshire?

A phoenix company in Hampshire can often retain key contracts, client relationships, and employees from the old business.

Transferring staff must follow TUPE regulations in Hampshire to protect employment rights.

Will Creditors Be Notified in Hampshire?

All creditors of the liquidated company must be notified if the new company is using a similar name or operating in a similar way in Hampshire.

This ensures transparency and protects creditors from deception in Hampshire.

Can I Buy the Assets from the Old Company in Hampshire?

The assets in Hampshire including stock, equipment, or intellectual property, can be sold to the new company at fair market value by the liquidator.

You cannot transfer assets privately or below market value in Hampshire.

What Are the Risks of Forming a Phoenix Company in Hampshire?

If the rules are not followed correctly, you could be held personally liable for new company debts or be disqualified as a director in Hampshire.

There may also be reputational damage in Hampshire if the new company appears to evade the old one’s obligations.

What Is the Process for Creating a Phoenix Company in Hampshire?

The typical process in Hampshire includes:

1. Entering a formal liquidation (CVL) in Hampshire

2. Valuing and selling the old company’s assets in Hampshire

3. Setting up a new company in Hampshire

4. Transferring staff and operations in Hampshire

5. Filing all legal notices and exemption forms under Section 216 in Hampshire

We manage this process end-to-end to ensure full compliance in Hampshire.

Does HMRC Allow Phoenix Companies in Hampshire?

HMRC permits in Hampshire the formation of phoenix companies, but they monitor closely for misuse.

You must remain fully compliant in Hampshire with tax obligations in the new business.

Can I Form a Phoenix Company After Compulsory Liquidation in Hampshire?

If your company was forcibly wound up in Hampshire through compulsory liquidation, you must still follow the same name reuse restrictions and apply for court permission.

In some cases, HMRC or other creditors may object in Hampshire.

What If I Want to Use a Completely New Name in Hampshire?

If the new company name is not the same or similar in Hampshire, Section 216 restrictions do not apply.

However, you still need to ensure that no misleading links exist in Hampshire between the old and new businesses.

How Much Does It Cost to Set Up a Phoenix Company in Hampshire?

A CVL in Hampshire costs from £3,000–£5,000 in Hampshire, plus legal fees for name reuse applications if needed.

The cost in Hampshire depends on whether you’re purchasing assets and the complexity of the liquidation.

We offer fixed-fee packages in Hampshire that include full phoenix company advice and compliance.

Get Expert Phoenix Company Advice Today in Hampshire

If you're closing an insolvent company in Hampshire and want to continue trading, legal guidance is essential.

We offer low-cost, legally compliant phoenix company services in Hampshire with expert oversight.

Contact Fast Insolvency now for free, confidential advice on forming a phoenix company safely and lawfully in Hampshire.

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